SouthState Corp Purchases 100 Shares of International Business Machines Co. (NYSE:IBM)

SouthState Corp boosted its stake in shares of International Business Machines Co. (NYSE:IBM) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,444 shares of the technology company’s stock after purchasing an additional 100 shares during the quarter. SouthState Corp’s holdings in International Business Machines were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its position in International Business Machines by 20.3% during the fourth quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock valued at $78,045,000 after purchasing an additional 80,474 shares in the last quarter. Natixis Advisors L.P. raised its stake in International Business Machines by 18.1% in the third quarter. Natixis Advisors L.P. now owns 372,307 shares of the technology company’s stock valued at $52,235,000 after buying an additional 57,170 shares during the last quarter. Herold Advisors Inc. raised its stake in International Business Machines by 3.2% in the third quarter. Herold Advisors Inc. now owns 21,880 shares of the technology company’s stock valued at $3,070,000 after buying an additional 688 shares during the last quarter. Tsfg LLC raised its stake in International Business Machines by 40.5% in the fourth quarter. Tsfg LLC now owns 378 shares of the technology company’s stock valued at $62,000 after buying an additional 109 shares during the last quarter. Finally, Auxano Advisors LLC raised its stake in International Business Machines by 4.8% in the fourth quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock valued at $556,000 after buying an additional 156 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Stock Performance

IBM stock traded up $0.26 during trading on Thursday, hitting $164.69. 3,824,327 shares of the company traded hands, compared to its average volume of 4,997,535. The stock’s 50-day simple moving average is $186.54 and its 200 day simple moving average is $170.87. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 1.09. The company has a market cap of $150.98 billion, a PE ratio of 18.53, a P/E/G ratio of 4.08 and a beta of 0.74. International Business Machines Co. has a 1 year low of $120.55 and a 1 year high of $199.18.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.09. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $1.36 earnings per share. On average, equities analysts expect that International Business Machines Co. will post 9.94 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $1.67 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. This represents a $6.68 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Thursday, May 9th. International Business Machines’s dividend payout ratio (DPR) is currently 75.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBM shares. Bank of America increased their price target on International Business Machines from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Wedbush increased their price target on International Business Machines from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Evercore upgraded International Business Machines from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Sanford C. Bernstein raised their price objective on International Business Machines from $165.00 to $186.00 and gave the stock a “market perform” rating in a research note on Thursday, March 7th. Finally, Societe Generale restated a “sell” rating and issued a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $181.29.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.